Investment and financing behaviours in the financial crisis: The sustainable implications for SMEs

Despite the driving role of economic growth, SMEs in Vietnam have dealt with many critical constraints relating to insufficiency internal financing sources and inaccessibility external funds arising from crisis period. Based on unique dataset Vietnam’s covering period 2008–2016, this research aims investigate financial investment behaviours SMEs, which remains scarce existing studies. The results find that there is a reduction SMEs’ caused by In addition, following onset crisis, internally generated finance more influential than supply bank finance, supporting pecking order theory explain nexus between behaviours, similar large-sized firms or listed firms. Some policy implications are provided better conduct business practices for sustainability SMEs.